Aviation

Bloomberg Two top executives of Jet Airways India Ltd resigned this week, further diminishing prospects for the grounded carrier that is desperately seeking $1.2 billion to fly again. Chief Executive Officer Vinay Dube and Chief Financial Officer Amit Agarwal quit the company citing personal reasons, Jet Airways said in two separate stock exchange filings. While both resignations were effective immediately, ...

Bloomberg Tour operator TUI AG held to its forecast while warning that it’s battling overcapacity this summer in the Spanish vacation market, as a deadline looms for its grounded fleet of Boeing Co 737 Max jets. The Hanover, Germany-based company reiterated its expectation for a 2019 drop of 17 percent in underlying earnings before interest and taxes. But expenses related ...

Bloomberg Boeing Co has started storing 737 Max jets at a vast Texas maintenance base as the planemaker continues to churn out the single-aisle aircraft while waiting for regulators to lift a global grounding. Planespotter Chris Edwards picked up the radar track of the first factory-fresh Max to be parked outside the Seattle area as it headed to San Antonio ...

Bloomberg Nearly 20 years after abandoning his hostile bid for Air Canada, Gerry Schwartz finally got his airline by agreeing to buy WestJet Airlines Ltd for C$3.5 billion ($2.6 billion). Schwartz’s private equity firm Onex Corp agreed to pay cash for Canada’s second-biggest carrier, and plans to take the company private in one of the buyout firm’s biggest deals. Onex ...

Bloomberg Air France plans to cut as many as 465 jobs as it slashes short-haul capacity in a bid to stem losses amid competition from low-cost airlines and high-speed trains. The biggest division of Air France-KLM Group will eliminate the positions on French domestic routes over the coming year, it said in a statement. Consultation with unions and other stakeholders ...

Bloomberg Dirgantara Indonesia, a supplier of aluminum wing components for Airbus SE’s A320 and A380 model jets, is developing the production capability to supply non-metal aircraft parts as well. The company is “exploring opportunities” to produce so-called composite parts — typically made from fiberglass or carbon fiber — for both Airbus and Boeing Co within the next two years, President ...

Bloomberg As Boeing Co’s 737 Max was about to enter service in 2017 it became the subject of an unusual diplomatic exchange. Chinese officials, eager to enter the global aircraft manufacturing market dominated by Boeing and Europe’s Airbus SE, raised the prospect with their US counterparts of clearing Boeing’s aircraft for use in China in exchange for favourable treatment of ...

Bloomberg The most exclusive airline seats are becoming harder to find, with two South Korean carriers becoming the latest to eliminate first class on some of their flights. Korean Air Lines Co will do away with first-class seats on 27 routes starting from June 1, while Asiana Airlines Inc will no longer offer the products on any of its services ...

Bloomberg The amount of money Boeing Co and its insurers will pay to the families of those who perished aboard two doomed jets will be dictated in part by one particularly grim calculation: How long did the victims know they were plunging to their deaths. That measure is just one part of an expanding legal fight to determine financial liability ...

Bloomberg Viva Air, the Latin American group of carriers owned by a founder of Ireland’s Ryanair Holdings Plc, has plans for a third airline in the region plus an initial public offering, to cash in on strong demand for discount air travel. The company aims to sell shares in New York within two years, Viva’s biggest shareholder, Declan Ryan, said ...